Gate.io Denies Insolvency Rumors Amidst Multichain Allegations

Centralized exchange Gate.io has refuted rumors of insolvency amid allegations of a connection to cross-chain router protocol Multichain (MULTI). After blockchain analytics firm Arkham Intelligence revealed large MULTI inflows to Gate.io and rumors of the protocol team's arrest, Binance suspended deposits for tokens reliant on Multichain. On May 31, Multichain stated its CEO was missing and routers were inaccessible. Subsequently, Twitter users shared images of alleged large FTM deposits from Multichain team members to Gate.io. Gate.io has affirmed that operations and withdrawals remain unaffected, with its focus on launching a Hong Kong-based trading platform, Gate.HK.